Peter Thiel's Palantir Extends Partnership With Boeing Rival Airbus

Software company Palantir Technologies Inc. (NASDAQ:PLTR), co-founded by Peter Thiel, has announced the expansion of its partnership with aircraft manufacturer Airbus SE (OTC:EADSY) (OTC:EADSF).

Multi-Year Agreement

In an official press release published on Tuesday, the companies announced the extension of their collaboration after signing a multi-year agreement on the open data platform Skywise, developed jointly by the two companies.

According to the statement, the Skywise platform helps combine "in-flight engineering and operational data in an analytic rich environment." Currently, over 50,000 users utilize the platform to help in its daily operations, the statement said.

Palantir's Executive Vice-President Josh Harris hailed the partnership, sharing that it would help the company continue to deliver "secure, AI-enabled capabilities with multiple LLMs" that would help improve "manufacturing and supply chain" as well as "maintenance and flight operations."

Michael Burry's Palantir Collapse

The news comes as "The Big Short" fame investor Michael Burry predicted that the AI company will experience a nearly 60% decline in stock value, with his forecasted ultimate "Landing Area" for the stock somewhere around the $50 and $60 per share mark. He had earlier termed the company as a part of his "frauds of the modern era" list.

Airbus Signs Agreement With Total Energy

Meanwhile, TotalEnergies SE (NYSE:TTE) signed two agreements with Airbus, which would see the company supply over 3.3 TWh of electricity to the aircraft manufacturer’s major sites in Germany and the U.K.

Benzinga Edge Rankings show that Palantir scores well on the Growth metric.

Price Action: PLTR declined 2.14% to $139.51 at market close on Tuesday, but surged 0.26% to $139.86 during overnight trading.

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